Answer: Option (B) is correct.
Explanation:
Correct option: Decreasing marginal product.
Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.
So, Marginal Product = 
Where,
Q = Output
I = Input
Marginal product of 1st bag = 500
Marginal product of 2nd bag = 
= 300
Marginal product of 3rd bag = 
= 100
∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.
Hence, Joan's production function exhibits decreasing marginal product.
Answer:
The correct answer is A) top quality.
Explanation:
There are generally two sales approaches: the first, product-oriented. This takes into account its own characteristics in terms of presentation, quality and utility; and the second, people-oriented, where the real needs of the consumer are studied to determine how he uses the good in order to orient himself towards satisfying a need.
The example clearly shows that the orientation with minimum unit costs was mainly focused on the client, so that the first impression is that of a lower price to motivate their purchase decision. For his part, Orchard clearly shows a product orientation, because he tries to offer quality by sacrificing other variables to supply a need.
<span>The largest cattle rancher in a given region will be unable to have a __________ when sufficient numbers of smaller cattle ranchers provide sources of competition.
Monoply
</span>
Answer: January 26
Explanation:
A life insurance policy is simply a contract that an individual has with an insurance company whereby the individual makes premium and in turn, the insurance company would have to give a death benefit, to the beneficiaries of the insurance policy once the insured dies.
Based on the information in the question, the coverage become effective on January 26 which was the day the policy was delivered and the first premium was collected.
Answer:
a. 27.9%
Explanation:
The formula and the computation of the gross profit are shown below:
Gross profit = (Gross profit) ÷ (Sales) × 100
where,
Gross profit = $1,604
And, the sales revenue is $5,742
So, the gross profit is
= ($1,604) ÷ ($5,742) × 100
= 27.9%
By dividing the gross profit by the sales we can get the gross profit
